ICONOMI, a fund management platform for Blockchains and cryptocurrencies has announced the distribution of their ICN apptokens among investors just 27 days after their successful Initial Coin Offering.
At 9:00 AM EDT on October 25, the Ethereum-based platform, through the deployment of a smart contract, issued 100 million ERC20 compliant apptokens, representing 100% ownership of ICONOMI, to the 3,508 investors who participated in the ICO.
Over the course of 31 days, ICONOMI raised more than $10.5 million through their ICO. The final tally on their record-setting ICO, which was completed on September 29, is $10,682,516.42 USD invested from 3,508 investors from across the world. The ICONOMI ICO was the 11th highest funded crowdsale ever, in any category, trailing only The DAO and Ethereum in crowdsales of financial technology.
Now that all the shares have been distributed, the ICONOMI team is focusing its attention on the ICONOMI index (ICNX), the world’s first cryptocurrency index which consists of 14 major cryptocurrencies representing 92% of the total market capitalization of cryptocurrencies worldwide.
Based in Slovenia, the ICONOMI team is aggressively completing the development of its first two managed funds, ICONOMI.index, a passive fund that follows the ICONOMI index, and a higher yield, higher risk, ICONOMI.performance fund actively managed by trading professionals.
Co-founder Tim Mitja Zagar said:
“With development in full swing, we are looking forward to the launch of our two investments funds in Q4 of this year: ICONOMI.INDEX, an index investment fund comprised of a basket of popular cryptocurrencies that minimizes volatility, and ICONOMI.PERFORMANCE, an actively managed fund targeting higher yields and run by credentialed, expert traders.”
“In addition, we will enable custom funds to be created by prominent traders through our Open Fund Management platform launching in 2017. This platform will serve as a simple management tool where traders with knowledge and experience can create their own investments funds, a platform we believe will disrupt the asset management industry.” Added Zagar.
Jani Valjavec, Co-founder of ICONOMI, said:
“Upon the launch of the ICONOMI funds, ICONOMI token owners will earn weekly profit dividends from the trading fees of investment funds under the management of ICONOMI. Dividends will come from the trading fees of investment funds under the management of ICONOMI and from the fees of investment funds of independent traders, listed on the ICONOMI fund management platform and in accordance with the fee split schedule.”
Five different currencies were accepted during the ICO: digital currencies for Bitcoin, Ethereum, and Lisk, as well as US dollars and euros in fiat. In total, 6,901.4585 BTC, 199,206.8296 ETH, 3,995,994.6980 LSK, $123,454.20 USD and €2,496,470.96 EUR were invested into the platform during the ICO.
Founded in 2016 by the developers of payments gateway Cashila, one of the first registered bitcoin companies in Europe, ICONOMI is “uberizing” fund management with a breakthrough platform. Developed on Ethereum, ICONOMI is a platform that will provide the tools and easy-to-use infrastructure for users to develop their own passive or active-managed funds of cryptocurrencies. The ICONOMI Cryptocurrencies Index (ICNX), released to the public in September 2016, is a basket of cryptocurrencies representing the overall value of publicly traded Blockchains. The index currently consists of 14 major cryptocurrencies including Bitcoin, Ethereum, Steem, Dash, Monero, MadeSafeCoin, Lisk, and Factom, among others.